/ Amara Raja Tanks 5% After Posting Q3 FY17 Results ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 23 January 2017

While both the benchmark indices, CNX NIFTY 50 and S&P BSE Sensex are trading in green on Monday morning, Amara Raja Batteries has tanked more than 5% after its Q3 FY17 results came out on Sunday.

The Company has reported 17.90% drop in net profit in Q3 FY17, at Rs 112.32 crore as compared to a net profit of Rs 136.82 crore posted for the corresponding quarter of the previous year. Company's expense also has increased by 14.46% to Rs 1344.96 crore from Rs 1175.03 crore YoY. Nevertheless, it has been observed that the total income from operations, has grown by 9.67% to Rs 1502 crore from Rs 1369.54 crore YoY.

Amara Raja Batteries is one of the renowned names in the Auto Ancillaries sector, majorly engaged in batteries, having a current market capitalisation of Rs 14920.47 crore, and is based out of Tirupati, Andhra Pradesh.

Amara Raja Batteries Ltd is currently trading at Rs 873.05, down by Rs 29.3 or 3.25% from its previous closing of Rs 902.35 on the BSE. The scrip opened at Rs 898 and has touched a high and low of Rs 898 and Rs 857.25 respectively. So far 123209(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 15413.27 crore.

The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 1077 on 06-Sep-2016 and a 52 week low of Rs 796.25 on 21-Jan-2016. Last one week high and low of the scrip stood at Rs 942.5 and Rs 880.95 respectively.

The promoters holding in the company stood at 52.06 % while Institutions and Non-Institutions held 29.64 % and 18.29 % respectively. The stock is currently trading below its 200 DMA.

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